Drilling Tools International Leases 27150 Square Feet At 1612 Southcreek Ln Houston
LEASED
Texas
See Similar DealsIndustrial27,150 SF
LEASED
Drilling Tools International Leases 27150 Square Feet At 1612 Southcreek Ln Houston
1612 Southcreek Ln, Houston, TX, 77...
See Similar DealsIndustrial27,150 SF
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:27,150 SF
Transaction Type:Lease
Drilling Tools International has signed a lease for an industrial property located at 1612 Southcreek Lane in Houston, TX. The property encompasses 27,150 square feet and is situated on a 2.9-acre site within Candle Ridge Business Park on the city's north side. This crane-served facility caters to the downhole land and offshore drilling industries.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not disclosed
- Address: 1612 Southcreek Ln, Houston, TX
- Market: Houston
- Tenant: Drilling Tools International
- Landlord: TRECAP Southcreek Partners
- Tenant's Representative: Ed Frantz - CBRE
- Landlord's Representative: Jason Tangen - Colliers International
Ed Frantz, along with John Amini and Boomer White from CBRE, represented Drilling Tools International during the lease negotiations. Jason Tangen from Colliers International represented the landlord, TRECAP Southcreek Partners, in the transaction.
Players
LANDLORD
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,556,221.62
Total Lease Value
$15,562,216.17
Net Landlord Cash Flow$1,556,221.62
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